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Sec. 18-124. Creation of Self-Insurance Fund.

Sec. 18-124. Creation of self-insurance fund.

The city council hereby establishes a self-insurance fund for the payment of claims and judgments against the City of Lynchburg, and expenses in connection therewith, by transferring the funds that were previously held in the general fund reserve for uninsured deductibles and a utilities fund reserve for uninsured deductibles. The funds shall be administered by the city attorney's office and will be used for the purpose of paying property damage and liability claims, judgments and expenses according to regulation promulgated by the city manager. (Ord. No. O-84-205, § 1, 8-14-84; Ord. No. O-86-059, § 1, 4-22-86, eff. 1-1-86; Ord. No. O-91-224, 9-10-91, eff. 10-1-91)